(Bloomberg) — RSA Insurance Group Plc, the U.K.'s second-largest non-life insurer by market value, said revenue for the first quarter edged higher as it disposed of assets.
Net written premiums for its core operations rose 1% on a constant currency basis to 1.5 billion pounds ($2.3 billion), RSA said Thursday. Premiums, a measure of sales, from its recovering Irish unit were down 5% in the period.
“Premium income returned to modest growth,” said Chief Executive Officer Stephen Hester in the statement. “Lower interest rates and currency moves in our key territories continue to have adverse impacts, whilst insurance markets remain competitive.”
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